HP Adhesives Limited Reports No Deviation in IPO Fund Utilization for Q4FY26
HP Adhesives Limited reported no deviation in IPO fund utilization for the quarter ended March 31, 2026. Total IPO funds raised were ₹1259.63 Million (Rs. 125.96 crore). All IPO proceeds have been fully utilized as of March 31, 2026. A surplus of approx. ₹4.6 crore remains due to interest accrual.
This is a routine compliance filing confirming no deviations in fund utilization. It does not introduce new material information that would significantly impact the company's stock or operations beyond standard regulatory requirements.
The announcement is a routine regulatory filing confirming no deviation in fund utilization. While it confirms the completion of fund utilization, it also mentions a delay in Capex utilization, balancing the overall sentiment to neutral.
HP Adhesives Limited (HPAL) has submitted a Statement of Deviation(s) or Variation(s) in the utilization of funds raised via its Initial Public Offer (IPO) for the quarter ended March 31, 2026. The company confirmed that there were no deviations in the utilization of funds as per Regulation 32(1) of the SEBI Listing Regulations.
The IPO, which opened on December 15, 2021, and closed on December 17, 2021, with listing on December 27, 2021, raised a total of ₹1259.63 Million (Rs. 125.96 crore). This comprised Rs. 125.27 Million (Rs. 12.53 crore) from an Offer for Sale and Rs. 1134.36 Million (Rs. 113.44 crore) from a Fresh Issue.
The funds were originally allocated for Working Capital (₹540 Million), Capex (₹255.09 Million), and General Corporate Purposes (₹172.35 Million). For the quarter ended March 31, 2026, the utilized amounts were ₹540 Million for Working Capital, ₹255.09 Million for Capex, and ₹171.82 Million for General Corporate Purposes. No deviation was reported for any of these categories during the quarter.
As of March 31, 2026, HP Adhesives Limited has completed the utilization of all IPO proceeds. A surplus amount of approximately ₹4.6 crore, lying in the Monitoring Agency account and associated Fixed Deposits, is due to accrued interest over time. This surplus amount will be available for the company's future growth purposes. The company has also noted a delay in the utilization of Capex funds compared to the timeline in the prospectus, a detail previously disclosed in the March 2023 Monitoring Agency Report.
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HP Adhesives Limited filed this with the NSE as a statutory disclosure, categorised under sebi compliance filings. It is a primary document, not a recommendation, and the desk marks it low impact, the band that almost never moves a portfolio on its own.
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